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USD/CAD : falls after jobs report but runs into wall of USD buying
Information is not investment advice
Ichimoku Kinko Hyo
CAD/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish outlook.
XAU/USD: Gold facing a further weakness the last hours and trading near 23.6% retracement area.
US Market View
U.S. stocks are set to build on Thursday’s record closes at the opening, with quiet bond markets largely unruffled by the gradual reopening of the economy. Crude oil prices continue to drift sideways against a backdrop of rising supply and some uncertainty over whether demand is recovering fast enough to absorb it.
March inflation data out of China confirmed the start of a widely-expected increase in prices, measured in annual terms. PPI rose 4.4% on the year, the fastest increase since July 2018 and well ahead of expectations, while CPI rebounded to 0.4% on the year from -0.2% in February.
Europe’s sluggish vaccination campaign is showing signs of picking up at last. German Health Minister Jens Spahn tweeted that Europe’s largest economy had distributed 1.375 million vaccine shots in the last two days alone, something that reflects the fact that Germany only this week started allowing general practitioners' surgeries to vaccinate against Covid-19.
USA Key Point
- Canada March employment +303.1K vs +100.0K expected.
- The NZD is the strongest and the JPY is the weakest.
- Treasury yields keep higher, US futures mixed ahead of North American trading.
- Merkel talks with state leaders on Monday has been cancelled.
- Gold bounce stalls at short-term resistance.
- German health minister warns that current infection numbers yet to reflect actual virus situation.
- Dollar gains kept in-check so far on the session.
- ECB's de Guindos: Downside risks have materialised, Q1 was worse than initially expected.
Futures for Canada's main stock index rose on Monday, following positive global markets and gains in crude oil prices. First Citizens BancShares Inc's announcement of purchasing the loans and deposits of failed Silicon Valley Bank also boosted investor confidence in the global financial system...
Investor confidence in the global financial system has been shaken by the collapse of Silicon Valley Bank and Credit Suisse. As a result, many are turning to bearer assets, such as gold and bitcoin, to store value outside of the system without...
Greetings, fellow forex traders! Exciting news for those with an eye on the Australian market - the upcoming interest rate decision could be good news for Aussies looking to refinance or take out new loans. The Mortgage and Finance Association Australia CEO, Anja Pannek, has...
Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus